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Tpy6a [65]
3 years ago
15

Ashley invests $9,720 in a one-month money market account paying 3.16% simple annual interest and $8,140 in a two-year CD yieldi

ng 3.23% simple annual interest. Assuming Ashley does not reinvest or renew these investments, how much money will she have when both investments reach maturity, to the nearest dollar?

Mathematics
2 answers:
tester [92]3 years ago
5 0
For the first investment. A = P(1 + rt); where p = 9,720, r = 0.0316 and t = 1/12
A = 9720(1 + 0.0316/12) = 9720(1.0026) = $9,746

For the second investment,
A = 8140(1 + 0.0323 x 2) = 8140(1.0646) = $8,666

Total amount she had = $9,746 + $8,666 = $18,412
Elodia [21]3 years ago
3 0

Answer:

D. $18,411

Step-by-step explanation:

I just answered it correct

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